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Agricultural loans should be carried out by foreign banks

As agricultural loans are fraught with high risks, foreign banks are more suitable in that field, according to Dr. Soe Tun, the president of the Myanmar Farmers Association. He explained that they have a higher capital base and can also perform crop insurance for losses due to shocks such as...

Agricultural loans should be carried out by foreign banks

As agricultural loans are fraught with high risks, foreign banks are more suitable in that field, according to Dr. Soe Tun, the president of the Myanmar Farmers Association. He explained that they have a higher capital base and can also perform crop insurance for losses due to shocks such as...

More than 20,000 companies in Myanmar warned of the possibility of being deregistered

More than 20,000 currently registered companies, including many well known local businesses and foreign banks, has been given a fortnight to contact the DICA [ Directorate of Investment and Company Administration] or else run the risk of being deregistered. Eden group, Air Bagan, Sakura...

Myanmar's Garment manufacturers desire to step up to FOB system

Myanmar's garment manufacturers needs customs duty exemptions on imported fabrics and accessories if they were to change to FOB [ Freight On Board] system instead of the currently dominant CMP [ Cutting, Making,Packing] system. U Myint Soe, a Myanmar garment factory owner has told us that fabrics...

Myanmar Ministry of Energy back in the fuel oil business

There are news that 14 of the world's major oil and gas companies have bought tender documents from the Ministry of Energy with the intention of forming joint ventures or partnerships. The ministry has been inviting them since July of this year, to once again enter the fuel oil trading and...

Forex rates forecast to go down in 2016

Some businessmen are forecasting that with the imminent arrival of a new administration and political stability, Myanmar Kyats against the US Dollar exchange rate could fall back to around 1,200 Kyats to the Dollar. They have further stated that the current depreciation is the result of [Myanmar's...

Foreign Investment forecast to be higher than last year despite the General elections

According to the Myanmar Investment Commission (MIC) , foreign investment in Myanmar is expected to be even higher than last fiscal year, despite the General elections( to be held in October and November). U Aung Naing Oo, General secretary of the MIC has been cited as saying" [foreign investment]...

Myanmar Mangoes ask to be exported to the US

The Mandalay Division Mango Producers Association has held discussions with the US Economics Consul delegation to allow the export of Myanmar mangoes to the US. Daw Than Than Swe, Chair of the said association has been cited as saying" We want to export to the US market, which is the biggest market...

Myanmar's first ever satellite link system to be built

The Myanmar Department of Information Technology and Cyber Security has announced that an open tender has been issued for private firms to build a satellite link system. U Sai Saw Lin Tun, Deputy Director General of the Department said that a survey was conducted in July this year to find out the...

Air Bagan fleet grounded only for maintenance and normal service will resume in early October

Since 16th August, Air Bagan flights have been temporarily suspended, and the reasons were purely technical, according to Daw Grace Li, Air Bagan's Deputy Director. Normal service will resume in early October. On the evening of August 17th, U Tayza, owner of Air Bagan also posted on his Facebook...

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